Over-dependency on international financial institutions
Dependence of countries on external financing Excessive dependence of countries on external budgetary control Over-dependence of countries on external funding Reliance of countries on foreign loans Over-reliance of countries on foreign borrowing
There is an excessive indebtedness of many countries to the public and private international financial institutions, and linked with this, a foreign dependency amounting to virtual total subordination to the international financial system and the forces behind it.
Indebtedness has now reached such dimensions (US$ 810 billion at the end of 1983), that the mechanism of debt service now drains the bulk of the economic surplus (that is, the portion of national income otherwise available for net investment) of many countries.
Overreliance on foreign borrowing can cause appreciating real exchange rates, widening current account deficits, unsustainable external indebtedness, and dwindling foreign exchange reserves.
The Encyclopedia of World Problems and Human Potential is a collaboration between UIA and Mankind 2000, started in 1972. It is the result of an ambitious effort to collect and present information on the problems with which humanity is confronted, as well as the challenges such problems pose to concept formation, values and development strategies. Problems included are those identified in international periodicals but especially in the documents of some 60,000 international non-profit organizations, profiled in the Yearbook of International Organizations.
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